Alliance Capital Releases Two Analysts

Alliance Capital Management
has dismissed two U.S. credit analysts:
Jim Ferguson, an investment-grade analyst, and
Betsy
Hill, a high-yield analyst, according to a senior official at the firm. The official says Hill and Ferguson were
dismissed due to "management-related issues," but declined to elaborate. The official says the dismissals "had nothing to do with
individual credits they were covering," disputing a widespread market rumor that the dismissal of Ferguson, who covered
Enron, was related to that company's collapse. Ferguson and Hill could not be reached,
and it could not be determined whether they have found employment elsewhere. The official says it is still "up for discussion," whether
the company will make new hires to replace Hill and Ferguson.